Forums: Discussions for entrepreneurs and small business.

Hi everyone. This is my first post after reading the book.

I have an idea for a large scale, national (potentially international) retail music business with strong online potential as well. I imagine this as being huge, and it would take a huge partner to make it happen.

I would like to develop this idea and research how to pitch it to a major corporation (Apple, for example, would be a perfect partner). There`s no way i can make it happen, but i would like to sell the idea to a company that can put together all the pieces.

My first concern is how to protect my idea. As i understand it, ideas cannot be patented. Thanks in advance for any advice.

I think they call such an idea , `iTunes`. 

A strong non-disclosure agreement, which a VC or potential partner should not have a problem signing (or a version of their own) may help, but not a lot.  Ultimately, you`d either have to trust them, or not. That`s a gut reaction thing, plus a lot of research.

I`m sure some patent and trademark lawyers will be along to offer their suggestions.

This idea goes far beyond iTunes. Thanks

Don`t they all...

In addition to a very comprehensive NDA, as well as highly selective recipients of your idea, I always advise disclosing absolutely only what you need to (or "only showing a knee").  Do just enough to pique the interest of the recipient, but not enough for the recipient to be able to run with your idea themselves.   Ideas may be patented, but they are also costly and lengthy to obtain.

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Pepper Law Group, LLC
21 E. High Street, Suite D
Somerville, NJ 08876
informationlaw.com
Now available on DVD!
The Legal Considerations of Starting an Online Business

My experience has been that VC`s will NOT sign NDA`s.

It is very very difficult to pitch and idea and get anywhere. Investors invest in businesses and big companies buy smaller companies. These are simply the facts of the real world.

Very rarely (almost never) does anyone buy or invest in an idea.

With few exceptions success in business (and value creation) is more about execution and customer base as it is about the original idea.

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The Virtual Company Blog ●●●●● 2002 Ernst & Young Entrepreneur of the Year ●●●●● 2004 Inc. 500 ●●●●● Spare Bedroom to NASDAQ in Five Years ●●●●●

Mark P: I`m guessing that you`re Mark Powell, one of the 412 entrepreneurs of the year with the E & Y thing. That must have been one heck of a group photo!

Maybe VC`s won`t sign your NDA`s because of the reputation of the crash and burn of Housevalues.com, based from what most analysts say was poor senior management, not market conditions.

http:/blog.seattlepi.nwsource.com/venture/archives/110781.as p

Yes, you went from a spare bedroom to NASDAQ, but you forgot to mention that you also went back. That has to leave a mark.

I always opt for full disclosure on these things.

some ideas can be patented.

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James Lindon, Ph.D. Patent Attorney
Lindon & Lindon, LLC
Cleveland, Ohio
Patents, Trademarks, Copyrights, Pharmacy Law, Litigation
[this is not legal advice - provided for discussion only]
Intellectual Property for the Individual and Small Business: Identify, Protect, Enforce, Defend.
"Fools rush in where angels fear to tread."
http://www.LindonLaw.com

I was waiting for someone to say that. Setting Lake Erie on fire, for instance. Who would have thought of that? 

Jeff,

Based on your three posts in this thread it`s clear you have some issues. In each post you’ve taken a shot at someone else. If you have an overwhelming need to flame people why not hit the Yahoo Finance message borads?

Further research would reveal that I turned over the CEO reigns three + years ago.

As long as you’re seeking full disclosure let me add - my efforts have provided excellent wages and benefits to hundreds of employees, have made many employees wealthy beyond their dreams, have created tremendous value for our customers, have provided outstanding returns for investors and have paid tens of millions of dollars in local, state and federal taxes.

I know what I’m good at – starting and building companies – and I appreciate the recognition I’ve received. I’m back in my home office starting the cycle again.

Mark

 

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The Virtual Company Blog ●●●●● 2002 Ernst & Young Entrepreneur of the Year ●●●●● 2004 Inc. 500 ●●●●● Spare Bedroom to NASDAQ in Five Years ●●●●●